<p>
  The intraday arbitrage strategy we built and tested throughout this tutorial underperforms the SPY benchmark in 
  terms of Sharpe ratio when including trading costs. Without these costs, we found the strategy outperforms the SPY 
  in terms of Sharpe ratio. In our implementation, we specified the alpha model to initiate trading when atleast a 
  0.02% profit threshold is reached for 3 seconds. Both of these parameters are set lower than the strategy examined 
  in Marshall et al (2010) for demonstration purposes. Increasing the profit threshold will lead to more profitable, 
  but fewer, trades that may overcome the cost of trading. We leave this area of study for future research. 
  Additional areas of future research include increasing the resolution of data from second to tick and incorportating 
  an execution model that utilizes limit orders to reduce fees.
</p>
